Don’t Go It Alone With Your Financial Aid Application

Get the service and support you’re looking for

Keeping college affordable for you and your family is a goal we can all get behind. In addition to helping you navigate the financial aid process, we can help identify additional financing if you need it.

Feel free to contact the Financial Aid Office by phone or email. You can also stop by for a walk-in appointment or schedule some time in advance to discuss your specific concerns.

Applying is the first step. Are you ready?

How To Apply

Complete the FAFSA.

To be considered for federal, state, or institutional financial aid, students are required to file a FAFSA. Please use the U.S. Department of Education’s website as it is free and available to all students.

Based on the information provided on the FAFSA, the federal government makes a determination with regard to the amount the family is expected to contribute toward the student’s educational costs. This amount is called the EFC, or Expected Family Contribution. The EFC amount for your family is the same at every institution; however your financial aid need may be different at each college or university.

If students or their families have specific questions about filing the FAFSA, please contact the Financial Aid Office. We are happy to assist with questions or concerns about financial aid and/or the FAFSA process.

The Review Process

After Your FAFSA is Received.

After Urbana University receives your FAFSA information, we review it before awarding financial aid. We may ask you for additional information (including copies of your tax transcripts) or we will send an award letter to your home address. The award letter is a statement of the total financial aid resources you may receive from Urbana University for the next academic year. The award letter will also list any forms that the student and/or family need to complete before financial aid can be disbursed.

Book Vouchers

It is recommend that students plan to spend least $600 to purchase books each semester. Many professors require that students come to class with their books, so it is very important to purchase all of the books that are recommended each semester.

Students who use Federal Financial Aid may be eligible for a book voucher if their aid exceeds the amount due to Urbana for tuition, fees, room and board. To determine book voucher eligibility students may contact the Student Accounts Office. A student who has a credit balance on their account may receive a book voucher up to the credit on their account, of which $50 may be used for “other” items such as apparel.

Urbana University partners with Barnes & Noble Booksellers for our bookstore. You can go to the Urbana University Bookstore online to reserve your textbooks for convenient pick-up at the bookstore. Keep in mind, a major credit card is required in order for you to reserve textbooks. You may also call (937) 772-9282 to talk with the Bookstore directly.

Disbursements

Disbursements

Financial aid will not disburse to your student account until after the start of each semester. Please review the disbursement schedule below so you can plan your finances accordingly.

Changes In Enrollment

Students receiving any type of financial aid may lose part or all of such assistance if they stop attending or withdraw from one or more courses in any one semester. Any overaward that results from withdrawing or nonattendance must be repaid before further financial assistance may be received. In considering whether or not to withdraw from or stop attending a course, students receiving financial aid should first consult with the Financial Aid office.

Satisfactory Academic Progress (SAP) for Financial Aid

In order to comply with federal regulations under Section 668.16 (e), Urbana University has established standards for measuring satisfactory academic progress for students receiving Title IV assistance. These standards contain both qualitative and quantitative components and must be met in order to maintain eligibility for Federal, Title IV Aid.

Return of Title IV Funds

Due to federal regulations, students who receive federal financial aid and completely or partially withdraw during a semester will be subject to a recalculation of funds awarded. The outcome of the recalculation is dependent on when the withdrawal is initiated and the type of aid received.

Urbana University is required to review a student’s account and recalculate financial aid eligibility in the following situations:

A student completely withdraws from all classes during the trimester, or;

A student never attends any classes during the semester, or;

A student does not complete all modules for which he/she has registered during the semester

Other Financial Aid-related forms can be obtained by contacting the Financial Aid Office. These forms include:

Dependency Override Appeal

Homeless/At-Risk Form

Legal guardianship/Emancipated Minor Form

Non-Degree Statement of Purpose for Post-Baccalaureate

Permanent Disability Discharge Form

Parental Non-disclosure Application Form

Proof of Prior Aid Cancellation Form

Special Circumstances Appeal

Unusual Enrollment History Appeal

Ward of Court/Orphan Form

Financial Aid FAQs

What is Student Loan Entrance Counseling and why must I complete this process?

Entrance counseling is required by federal regulations for all first-time borrowers at a school. It gives an overview of the Federal Loans Program and discusses specific topics related to types of loans, interest rates, borrower rights and responsibilities, etc. This counseling session can provide tips and tools for you to develop a budget for managing educational expenses. Loan Entrance Counseling documents can be accessed from the Documents & Forms page.

What is Student Loan Exit Counseling and why must I complete this process when I am in school or returning to school?

Exit counseling is federally mandated when you have stopped attending school or have dropped below half-time, regardless of whether you intend on returning. Student Loan Exit Counseling can be accessed from the Documents & Forms page.

What is the difference between Subsidized and Unsubsidized Direct Loans?

Both Subsidized and Unsubsidized Direct Federal Loans are funded through the Federal Direct Loan program and administered by the federal government.

Subsidized Loan - the federal government pays the interest on your Subsidized loan while you are enrolled at least half-time. Eligibility for Subsidized Loans is determined by financial need, are for a limited eligibility period, and are available to students seeking an undergraduate degree.

Unsubsidized Loan - you are responsible for your Unsubsidized loan while enrolled in school. You have the option to pay the interest or defer the payment until after graduation. Eligibility for Unsubsidized loans is available to both undergraduate and graduate level students.

Is there a limit on the total amount of loan funds I can receive throughout a single academic year or total years of enrollment?

Yes. There are federally mandated aggregate limits that you cannot exceed, dependent on grade level and dependency status. For more information see Types of Aid.

Do I have to accept all of the funds detailed on my award letter?

No. While all grant funds are automatically accepted for you, you are able to accept a reduced amount of funds based on your discretion. Please note the following stipulations:

The funds must be divided evenly over all of the packaged terms in an academic year.

The minimum loan amount you can accept is $200.

All subsidized funds must be accepted before accepting/reducing unsubsidized loans.

In order to reduce funds, you need to indicate the revised amount on your award letter or notate a full decline of a loan. Please contact a Financial Aid Counselor if you have any questions about reducing your loan amounts.

Founded in 1850, Urbana University is a private, not-for-profit institution that offers educational opportunities and college degree programs to learners around the world and throughout the state of Ohio, including the cities of Urbana, Bellefontaine, Columbus, Dayton, Fairborn, London, Marysville, Piqua, Sidney, Springfield, and Troy. Urbana is a division of Franklin University, a nonprofit accredited university in Columbus, Ohio and provider of online college degrees, including bachelor's, master's and doctoral degree programs.